Reinvesting in Nursing Education & Workforce (ReNEW Fund)
About the Fund
The ReNEW Fund, established through a partnership between WGU and Social Finance, offers financial support to students in the final four core nursing terms of the Prelicensure Nursing BSN. It comprehensively covers educational costs (including travel to labs, clinicals, and other program-related expenses), ensuring that the journey to becoming a nurse is both affordable and achievable. This outcomes-based loan option has no origination fees, a zero percent interest rate, and a deferment option if your annual individual income falls below $60,000.
In an effort to mitigate the high turnover rates and staffing shortages in healthcare, the ReNEW Fund is a strategic investment in the future of nursing. It provides crucial support to historically underserved students, covering training costs that include in-person simulation labs and clinical placements, supporting a new generation of skilled nurses ready to serve and excel in the healthcare industry.
ReNEW Fund - Loan Program Benefits
The ReNEW Fund is a zero-fee, zero-interest outcomes-based loan.
Loan features:
- Minimum income threshold: $60,000 (annual individual income)
- Zero origination fees, zero interest
- Max loan: $20,000 per year; $40,000 aggregate total
- 5, 7, or 10-year repayment
Official terms and conditions can be found in the student terms sheet. Counselors will review these terms with each student interested in the ReNEW Fund.
How does the ReNEW Fund Compare with the
Standard Federal Student Loan?
6.533% fixed*
*varies, but there will always be fees and interest
Loan: $40,000
Years: 10
Interest: 6.533%
Payment: $455
Loan: $40,000
Years: 10
Interest: 0%
Payment: $333 (assuming income exceeding $60,000 per year)
6.533% fixed*
*varies, but there will always be fees and interest
Loan: $40,000
Years: 10
Interest: 6.533%
Payment: $455
Loan: $40,000
Years: 10
Interest: 0%
Payment: $333 (assuming income exceeding $60,000 per year)
**Please note that federal student loan forgiveness might be available to eligible students.
Learn more about federal student loan forgiveness here.
Are You Eligible?
Eligibility Requirements:
- Active student in the core nursing terms (last 4 terms) of the prelicensure nursing program
- Aged 18 or older
- Authorized to work in the United States
- Have at least 2 remaining terms of an Eligible Program to complete
- Low to moderate household income (talk with your financial aid counselor about specific income requirements)
- Meet Satisfactory Academic Progress (SAP)
- Resident of the United States or DACA status
- Meet with a WGU Financial Aid Counselor
We're Here to Help You Take the Next Step!
WGU Leavitt School of Health
Why choose WGU for your nursing education?
- Respected education. WGU is the largest nursing training provider in the U.S. Over the last five years, WGU has had a first-time NCLEX-RN average pass rate over 90%, far higher than the national average.
- Designed for working adults. WGU’s flexible, hybrid program enables students to earn a BSN degree on their own schedule.
- 100% online. Complete your degree on your time from home.
Accredited, Respected,
Recognized™
One important measure of a degree’s value is the reputation of the university where it was earned. When employers, industry leaders, and academic experts hold your alma mater in high esteem, you reap the benefits of that respect. WGU is a pioneer in reinventing higher education for the 21st century, and our quality has been recognized.
